Please revoke the 'house price crash' thread ban

beingjdc

Another (repeated, it was suggested at the time!) vote here for splitting the board into two, or three - a prices sub-forum, or possibly renting, buying/selling, and prices.

morg_monster

Mrs._Vita wrote: »

sorry sweetie, but recessions are only a bad thing if you are a debt junkie and have to pay the price for your over-indulgence.

for the rest of us prudent, sensible people who have lived within our means and have cash and a good credit rating, recessions are great.
They blow off all the froth and speculation and prices (of everything) get back to "normal"

nothing, and I mean nothing, will prevent this boom turning into a bust.

and I can't wait.

what about the hundreds of thousands of people who may their jobs in a recession are sensible?!! is recession a good thing for them too?! surely they aren't all debt junkies?

sdooley

Surely the philosophy of this site is that companies spend millions trying to screw customers and call it loyalty schemes and advertising. The site helps you fight back, with discussions about house prices (because estate agents try to screw you) as much as Tescos.

But the wishing for house prices to fall necessarily has a nasty edge as with the exception of probate sales, or those from property companies and developers, buying houses "cheap" has a victim.

morg_monster

what about the people who have the kind of circumstances where they can't afford to put by much for these kind of times? people with low paying jobs, disabilities, or large families? Not everyone can afford to save hundreds every month. Or simply young people like me who are at the start of their careers, not earning a huge amount, and just haven't had much time to build up savings?
Actually no don't answer that I expect you will say they shouldn't have so many kids, or they should train themselves up to get better paying jobs, or they should live at home with their parents never go out and save every penny of their salary or some other sound advice...

I'm glad you will be ok though...

Woby_Tide

well if the House Price Crash veto is lifted it's only fair that a House Price Rise thread is started for people to idly predict the bottom of the market for the next however many years then loudly proclaim a moral victory taht they were right on the day the first Land registry figures show a 0.1% rise. I don't see why the crashers should have all the cozy sticky threads to themselves

Rover

Perhaps Martin and his mods are heavily into BTL:rotfl:
But seriously, people must be made aware of the fact that house prices can go down!
Too many people still believe that 'bricks and mortar' are the ultimate investment or pension asset. Seven years ago they were a fantastic proposition, now it is very much the case of caveat emptor.
In economic circles, the cyclical nature of HPI and indeed, the general economy, is well known. And whether we like it or not, we are heading for a 'correction' in both.
I believe the purpose of this site is to help and inform - and it does a sterling job. By limiting the discussion, you are depriving the less knowledgable of valuble info/comment.
It still seems a daily occurrence that some poster asks whether investing in a new BTL flat is a good idea or not. These people are like lambs to slaughter.

For what it's worth I believe the value of housing will fall by double digit terms quickly, this is irrespective of BoE interest rates. There are many fundamental reasons for this, but in essence this particular asset bubble has peaked and will correct. If people regarded their houses as homes this would be almost an irrelevance as price changes would be relative to your next home. But if you regard your property(ies) as an investment this maybe quite irksome;) .

Uncle_Rico

morg_monster wrote: »

what about the people who have the kind of circumstances where they can't afford to put by much for these kind of times? people with low paying jobs, disabilities, or large families? Not everyone can afford to save hundreds every month. Or simply young people like me who are at the start of their careers, not earning a huge amount, and just haven't had much time to build up savings?
Actually no don't answer that I expect you will say they shouldn't have so many kids, or they should train themselves up to get better paying jobs, or they should live at home with their parents never go out and save every penny of their salary or some other sound advice...

I'm glad you will be ok though...

I'd imagine those people are the ones hoping for a HPC more than most!

itsgototstop

Mrs._Vita wrote: »

they can't be that sensible if they haven't put away some money for such circumstances.
if you choose to live beyond your means using cheap and easy credit then you have enjoyed the good times and now it is time for payback.

and anyway, hundreds of thousands is only a minority. the rest of us will come through unscathed and things will get back to normal.

my husband calls it "financial darwinism"

Falling house prices yes but to wish us into a recession seems wrong, its not only people who have lived beyond their means who suffer in an economic downturn I am afraid.

itsgototstop

Mrs._Vita wrote: »

sorry sweetie, but recessions are only a bad thing if you are a debt junkie and have to pay the price for your over-indulgence.


I'm assuming this is a joke

Sisyphus

itsgototstop wrote: »

Falling house prices yes but to wish us into a recession seems wrong, its not only people who have lived beyond their means who suffer in an economic downturn I am afraid.

I agree recessions are nasty. Having lives through them in the past I can say it causes a lot of misery. We believed the no more boom and bust lie unfortunately. The Worlds economic powers have been negligent with asset price inflation and turned a blind eye to the build up of the credit crunch. They could have acted years ago to create a softer landing. We are now way beyond that. There is a difference between predicting an upcoming recession and wanting one.

On the other hand what's wrong with wanting cheaper house prices. Normally people are happy with price drop in most products. Why should the cost of the roof over your head be any different?